Africa’s richest woman and founder of Flourish Africa, Apostle Folorunso Alakija, has launched a N1 billion fund to provide financial support for female-owned businesses in Africa.
Flourish Africa is a female empowerment platform designed to help women achieve their full potential, Checkout Magazine learnt.
In a statement, Apostle Alakija said the initiative would focus on supporting the entrepreneurial activities of at least 2,500 female-owned businesses through funding and structured training for over five years.
She said: “I’m happy to launch the Flourish Africa N1billion fund on my 70th birthday as a gift to hardworking and enterprising women. This initiative will focus on empowering women economically and socially for the benefit of their immediate families and the society.”
She explained that a minimum of 500 female micro-entrepreneurs would be trained yearly.
After the training, 100 entrepreneurs from the pool will be able to access grants to the tune of N2 million each for their businesses from a yearly fund of N200 million.
